Hyundai mulls selling Russian factory as operations become difficult
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South Korean carmaker Hyundai Motor Co. is reportedly considering selling its Russian factory, where operations have remained suspended since March after the onset of war in Ukraine, Hindustan Times reported citing Dong-a Ilbo newspaper and Reuters. Hyundai and its affiliate Kia Corp. could suffer an estimated 450 billion South Korean won ($315 million) loss this year due to the Russian business challenges, according to financial services company Samsung Securities Co. Ltd.
